May 17, 2021 19:00:00

It turns out that Mr. Elon Musk is actively involved in power saving of crypto asset 'Dogecoin'

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Dogecoin ', a crypto asset (virtual currency) developed as a parody currency of Bitcoin, has surged in value triggered by tweets by Tesla and SpaceX founder Elon Musk, and is an artificial satellite paid by Dogecoin. Is rapidly expanding its influence, including the announcement of the launch of. Meanwhile, crypto asset-related media Decrypt reports that Mr. Musk is actively involved in the development to improve the energy efficiency of Dogecoin.

The man who dodged the Dogecoin --Decrypt
https://decrypt.co/70945/exclusive-dogecoin-developers-say-theyve-been-working-with-elon-musk-since-2019

Dogecoin is a crypto asset based on the net meme ' Doge ', and since the beginning of 2021, Mr. Musk's frequent mention of Dogecoin has caused the price to skyrocket , and in April 2021 the market capitalization was 4 trillion. It had reached 600 billion yen.

The market capitalization of the crypto asset 'Dogecoin' from the net meme exceeds about 4.6 trillion yen, soaring about 6 times in just 4 days --GIGAZINE

Mr. Musk announced on May 12, 2021 that he will stop accepting payments for Tesla cars with Bitcoin due to the high environmental load of Bitcoin. In this announcement, Mr. Musk said, 'We are also considering introducing another crypto asset that can be traded with less than 1% of Bitcoin's energy,' but on May 13, 2021 the next day. 'We will work with the developers of Dogecoin to improve the efficiency of system transactions,' tweeted. At the time of writing, the tweet received more than 520,000 likes, and Mr. Musk's approach to Dogecoin has received a lot of attention.

Working with Doge devs to improve system transaction efficiency. Potentially promising.

— Elon Musk (@elonmusk) May 13, 2021

According to Ross Nicole , a member of the Dogecoin development team, Musk has been in frequent contact with the development team since being appointed Honorary CEO of Dogecoin in 2019. In addition, although the development team declined, Mr. Musk sometimes offered to fund Dogecoin.

According to Decrypt, Dogecoin uses a calculation method ' scrypt ' that consumes less energy, so it fits Mr. Musk's stance of seeking 'cryptographic assets with a small environmental load'. 'It is possible to reduce the energy consumption of Dogecoin and further reduce the environmental burden,' Nicole claims.

Decrypt said, 'Dogecoin was initially treated as a joke coin.' 'At this point, Dogecoin is under the protection of the world's most influential person (Mr. Musk), so fewer people treat Dogecoin as a joke. 'Masu', emphasizing the growing influence of Dogecoin.